Thermo Fisher Scientific quarterly profit declines

SarahTurner

LONDON (MarketWatch) -- Thermo Fisher Scientific
TMO, +0.46%
said that its fourth-quarter net income declined to $273.3 million, or 65 cents a share, from $287.0 million, or 67 cents a share, recorded at the same point a year ago. Sales rose to $2.8 billion, from $2.6 billion a year ago, reflecting currency translation gains and acquisitions. Adjusted earnings per share rose 5% to 91 cents a share. Analysts had been expecting earnings of 88 cents a share, according to data compiled by FactSet. "Given the actions we took in 2009, and the improvement we are seeing in our markets, we expect to grow revenues by 5% to 7% in 2010," the firm said. Adjusted earnings per share growth is expected at between 8% and 13%, or $3.30 to $3.45.

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